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What would you do if I told you a way to shift the house odds into your favor?
What if I told you that you could get a 100% ROI within a month or two?
How much would you invest if you knew that even when everything goes wrong, you could still walk out of the casino ahead?
I am $120,000 in debt with student loans and car payments living in one of the most expensive areas in the world, good ol’ Silicon Valley. Earlier this year I took a trip to Vegas that ended up changing my life:
My friend introduced me to a group of locals who make their living gambling. Risk is inherent in gambling, and as you know, risk is about probability: minimizing and maximizing bets for the best possible outcome. It’s how poker players make their decisions on whether to call or fold. How Blackjack players decide to hit, double, or stay.
This is exactly what this group of people taught me. How to calculate risk through observation and execution. The key to their method is not in the game, but in how you respond to each win or loss. The adjustment of the process in order to recalculate probability based on what is left in the deck.
So in February, I took the risk and flew out with the $6000 left in my bank and spend the first 4 months learning everything there was to know about statistics, probability, how certain cards affect the deck, strategies, and the occasional regrettable Vegas decision or two.
I took that $6000 to the table. Started out a little slow. In fact, I was down to my last $700.
The emotions were intense. Was I making the right decision? Should I be taking the advice of people I don't know? Is this how I should be spending my money?
I began to see the wins beginning to roll in. The method is working! Returns were clearing $300-$500 a day and after a month, I was up $7000.
Epiphany!
Why can’t I continue doing this? So I upped the stakes by reinvesting my winnings as well as taking out a $5000 loan.
Why take out a loan you ask?
Because I did not have enough money to cover my manufacturing costs for my product to cover my projected sales for Q4.
I thought this thread was about gambling?
Life is a gamble as is entrepreneurship. Everyday we calculate risk vs reward. Why do so many people take comfort in being employed? Because the risk of not providing to their family vs the reward of stability is skewed in their mind. And that is okay.
As for me, I took a different route. Vegas, aka The Fastlane Forum and its value giving, risk taking, freedom loving gang of misfits gave me the tools in order to succeed. The tools to skew the odds into my favor. Tools to redefine my thinking.
Everything necessary to begin is in this giant almanac of entrepreneurship. But it is and always will be on myself to take action. To push through the fear of investing my last penny into something with no assurance of success. The fear of taking out another loan with so much debt looming over my head already (which to be honest, I would have never crossed my mind a year ago). This is real life and these are real problems and emotional obstacles.
Back to the story.
As if it is not scary enough emptying my bank account to fund my Q4 shipment. Almost everything that went wrong happened:
1. There was a material sourcing problem and manufacturing delay that pushed my ship date back by a month. Material costs increased and lost time.
2. There was a communication error between my freight forwarder and the supplier. Unfortunately, my manufacturer had a holiday that Thursday/Friday and pushed my shipment out until Monday. Lost 5 days.
3. Shipment got held up at customs for inspection. Lost time.
4. I get the products to my house and quality check. Turns out 25% of my units are cracked in a corner due to a clamping process during manufacturing. There goes ~250 units that I refuse to sell.
5. There is another seller who is attempting to copy my product, copy, pictures, and product. I believe they may be sourcing from the same manufacturer. He used paid reviews and is now dead in the water.
6. Amazon loses 2 pallets somewhere in the Holiday craziness. Eventually finds them.
7. Product ranking tanked because I haven’t been in stock for 3 and a half months.
Thanksgiving Day and I am finally up and running. Sales are slow and progressively pick up through the beginning of December.
Back in July, I would average 4-6 units a day. My expectations were 2x-4x sales for December. To be honest, I was a little down because I missed out on November sales and was only sitting at 14 reviews expecting to sell through MAYBE half of my inventory.
Then Christmas happened. And it was very merry.
(Is there a way to add an image without having to upload it to an image host?)
I have never experience that amount of thrill and excitement waking up every day. Being a producer in a sea of consumers during what is usually a month of spending is indescribable.
December completely shattered all of my expectations. I cleared my goal of $20k revenue in a month. A goal of selling 25 units in a day. A yearly goal of $50k revenue. A goal of 10k Net profit in a month.
The best part?
December's net profit was 2x my monthly salary.
While I was on vacation for 2 weeks with my family enjoying the Holidays.
After deducting losses from defective products and feeling like the world is ending (yes I'm dramatic).
Why do I share this story?
I want people to see that you will never know how the market will respond unless you put yourself out there and take a risk. Taking risks can be terrifying, but growth is about going outside of your comfort zone.
Because I took a risk in, I have the ability to pay off over half of my loans in less than a year. Instead, this will be put back into expansion and growth of the business to more sales channels and products.
I think I’m beginning to understand what Fastlane truly means.
Happy Holidays everybody! Can't wait for what this year has to offer.
-Tyler
P.S. I am selling meat grinders and potato peelers.
What if I told you that you could get a 100% ROI within a month or two?
How much would you invest if you knew that even when everything goes wrong, you could still walk out of the casino ahead?
I am $120,000 in debt with student loans and car payments living in one of the most expensive areas in the world, good ol’ Silicon Valley. Earlier this year I took a trip to Vegas that ended up changing my life:
My friend introduced me to a group of locals who make their living gambling. Risk is inherent in gambling, and as you know, risk is about probability: minimizing and maximizing bets for the best possible outcome. It’s how poker players make their decisions on whether to call or fold. How Blackjack players decide to hit, double, or stay.
This is exactly what this group of people taught me. How to calculate risk through observation and execution. The key to their method is not in the game, but in how you respond to each win or loss. The adjustment of the process in order to recalculate probability based on what is left in the deck.
So in February, I took the risk and flew out with the $6000 left in my bank and spend the first 4 months learning everything there was to know about statistics, probability, how certain cards affect the deck, strategies, and the occasional regrettable Vegas decision or two.
I took that $6000 to the table. Started out a little slow. In fact, I was down to my last $700.
The emotions were intense. Was I making the right decision? Should I be taking the advice of people I don't know? Is this how I should be spending my money?
I began to see the wins beginning to roll in. The method is working! Returns were clearing $300-$500 a day and after a month, I was up $7000.
Epiphany!
Why can’t I continue doing this? So I upped the stakes by reinvesting my winnings as well as taking out a $5000 loan.
Why take out a loan you ask?
Because I did not have enough money to cover my manufacturing costs for my product to cover my projected sales for Q4.
I thought this thread was about gambling?
Life is a gamble as is entrepreneurship. Everyday we calculate risk vs reward. Why do so many people take comfort in being employed? Because the risk of not providing to their family vs the reward of stability is skewed in their mind. And that is okay.
As for me, I took a different route. Vegas, aka The Fastlane Forum and its value giving, risk taking, freedom loving gang of misfits gave me the tools in order to succeed. The tools to skew the odds into my favor. Tools to redefine my thinking.
Everything necessary to begin is in this giant almanac of entrepreneurship. But it is and always will be on myself to take action. To push through the fear of investing my last penny into something with no assurance of success. The fear of taking out another loan with so much debt looming over my head already (which to be honest, I would have never crossed my mind a year ago). This is real life and these are real problems and emotional obstacles.
Back to the story.
As if it is not scary enough emptying my bank account to fund my Q4 shipment. Almost everything that went wrong happened:
1. There was a material sourcing problem and manufacturing delay that pushed my ship date back by a month. Material costs increased and lost time.
2. There was a communication error between my freight forwarder and the supplier. Unfortunately, my manufacturer had a holiday that Thursday/Friday and pushed my shipment out until Monday. Lost 5 days.
3. Shipment got held up at customs for inspection. Lost time.
4. I get the products to my house and quality check. Turns out 25% of my units are cracked in a corner due to a clamping process during manufacturing. There goes ~250 units that I refuse to sell.
5. There is another seller who is attempting to copy my product, copy, pictures, and product. I believe they may be sourcing from the same manufacturer. He used paid reviews and is now dead in the water.
6. Amazon loses 2 pallets somewhere in the Holiday craziness. Eventually finds them.
7. Product ranking tanked because I haven’t been in stock for 3 and a half months.
Thanksgiving Day and I am finally up and running. Sales are slow and progressively pick up through the beginning of December.
Back in July, I would average 4-6 units a day. My expectations were 2x-4x sales for December. To be honest, I was a little down because I missed out on November sales and was only sitting at 14 reviews expecting to sell through MAYBE half of my inventory.
Then Christmas happened. And it was very merry.
(Is there a way to add an image without having to upload it to an image host?)
I have never experience that amount of thrill and excitement waking up every day. Being a producer in a sea of consumers during what is usually a month of spending is indescribable.
December completely shattered all of my expectations. I cleared my goal of $20k revenue in a month. A goal of selling 25 units in a day. A yearly goal of $50k revenue. A goal of 10k Net profit in a month.
The best part?
December's net profit was 2x my monthly salary.
While I was on vacation for 2 weeks with my family enjoying the Holidays.
After deducting losses from defective products and feeling like the world is ending (yes I'm dramatic).
Why do I share this story?
I want people to see that you will never know how the market will respond unless you put yourself out there and take a risk. Taking risks can be terrifying, but growth is about going outside of your comfort zone.
Because I took a risk in, I have the ability to pay off over half of my loans in less than a year. Instead, this will be put back into expansion and growth of the business to more sales channels and products.
I think I’m beginning to understand what Fastlane truly means.
Happy Holidays everybody! Can't wait for what this year has to offer.
-Tyler
P.S. I am selling meat grinders and potato peelers.
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